Overview
- The CoinShares report published Aug. 6 found deposits of tokenized real‑world assets in DeFi lending venues and decentralized exchanges rose from $2.3 billion to $7.4 billion year‑over‑year, even as total DeFi deposits fell about 15%.
- Spot trading of tokenized assets climbed roughly 220% year‑over‑year while broader decentralized exchange spot volume fell about 70%, and perpetuals venues such as TradeXYZ showed large gains in volume and open interest.
- Nearly 70% of RWA collateral used in DeFi lending sat on Ethereum‑based venues, giving Ethereum a liquidity advantage even as cheaper chains like Solana and BNB Chain capture growing shares of total distributed RWA value.
- Yields on tokenized products ranged about 3.2%–5.5% with Treasury funds at the lower end, application revenue from RWA activity remains nascent overall, and Hyperliquid stands out by capturing unusually high fees across exchange and settlement layers.
- The on‑chain RWA market now totals roughly $38–$40 billion but remains small versus global markets, and the shift to active use raises operational and regulatory questions about custody, counterparty risk, liquidity and how venues will scale.